Confessions of a former trader: Incentives at banks are misaligned
Banks like to call themselves technology companies. And most large ones are currently focused on fighting — and winning — the war for talent against Silicon Valley.
The problem is, they have issues when it comes to incentivizing their many tech employees to create great products.
Banks’ digital transformation seems to have slowed over the past year. M&A isn’t as much or as frequent as many observers of the space had anticipated. Banks have put millions of investment dollars in technology companies and fintech startups, but since they’re still plagued with legacy technology and systems, implementing new digital processes and features is a long-term project.
In this installment of Confessions, in which we trade anonymity in exchange for honesty, we spoke with a fintech CEO who spent 15 years as a trader in a handful of major Wall Street firms about how banks are shaping up in the innovation race with fintech startups and other competitors, why having a mission is central to incentivizing strong bank engineers to do good work and how not having one can make “waiting for the future boring.” Edited highlights below.
‘There’s more opportunity’: Publishers on TikTok are taking branded content into their own hands
As their audiences on the social app have grown, a flurry of publishers have turned to developing branded content campaigns to explore new commercial opportunities.
Member Exclusive‘A more hopeful future’: As the coronavirus surges, advertisers aren’t pressing pause
Spending has remained consistent, according to media buyers, who say that advertisers are more prepared this time around.
‘Time to test multiple offers’: Why Black Friday and Cyber Monday advertising is coming earlier than ever this year
The accelerated shift of consumer shopping to e-commerce and the expected surge of online holiday retail, has led to earlier Black Friday and Cyber Monday advertising.
SponsoredA buyer’s guide to new CTV terminology
by Austin Scott, Head of EMEA Video Market Development at Xandr There has been a seismic shift in the way audiences consume content. The average U.S. home owns 11 connected devices. More than 40 percent of consumers use connected TV (CTV) devices to stream content daily, and 77 percent of households are considered CTV households. […]
‘Logistical issues’: Confessions of a production exec on how coronavirus safety has changed her job
We hear from a producer who handles bids about how the coronavirus has changed her job and why the increasing positivity rate could once again make it difficult and frightening.
Big-box retailers are changing their marketing messages to avoid a Black Friday crunch
In advertising Black Friday deals, retailers are giving more details about how long deals will last where customers get info about what new deals will be available when.